A very important news item appeared in the last few days and could worry anyone who holds Ethereum.
About 850,000 Ethereum are waiting to exit the custody system, which is the highest amount reached by the queue list this year, with a waiting period approaching 15 days.
But why did this big rise happen?
The main reason is related to a security issue that affected Ethereum’s storage service by MetaMask, and as a result, a precautionary measure was taken to remove around 17,000 validators holding about 523,000 Ethereum.
This is the point that really matters to traders 👇
Ethereum exiting the storage system doesn’t mean it will be sold immediately.
But once these coins become available to their owners, some of them may decide to sell.
This is where the problem starts:
If the owners of these coins begin selling, along with other people who feared the news and decided to sell before any drop happens, selling pressure on Ethereum could increase and affect the price.
But if the coins then exit and their owners return them to a storage system, the news impact could be much less.
🔥 Therefore, I think the 850K Ethereum figure is definitely worth following closely.
The real question now isn’t:
"Will 850K Ethereum come out?"
The question is:
After they come out.. will they head to sell or return to storage? 👀
The coming days will be very important for Ethereum.
